The Official Trump Coin price went parabolic in April, making it one of the best cryptocurrencies in the market. It jumped to a high of $16.55 in April, up by 130% from its lowest level during the month. This article explores why the Trump meme coin will surge and then crash in May as investors focus on Bitcoin Pepe.
Trump Coin Price to Pump and Then Dump
The Trump meme coin price is expected to surge soon, helped by its strong technicals and fundamentals.
Fundamentally, the coin will likely keep soaring ahead of the exclusive dinner of its top holders with Donald Trump.
The expectation is that there will be a bidding war ahead of the May 22nd dinner as investors aim to attend. Most of this war will happen towards the dinner date.
The risk, however, is that the coin may crash during or after the dinner as attendees start selling once they achieve their investment goals. A similar decline will happen among investors who miss the dinner date.
An important concept in the financial market is known as buying the rumor and selling the news. This is a situation where investors buy an asset ahead of a major event and then retreat after it happens.
A good example of this is the recent highly anticipated Pi Network mainnet launch. After rising initially, the coin has crashed by over 80%, and is hovering near its all-time low.
The other reason why the Trump Coin price may crash is that the exclusive dinner may be postponed because of ethics issues. Most experts have warned that offering the dinner is one way that Trump is profiting from the presidency.
As such, there is a likelihood that he will decide to end postpone the dinner to a later date as he did with his tariffs. Such a move could cause the Trump meme coin price to crash as some buyers sell.
Trump Meme Coin Price Technical Analysis
The eight-hour chart points to an upcoming Trump Coin surge and then dump. After peaking at $16.43 in April, it dropped to a low of $12 on April 30th. Now, there are signs that it wants to form a double-top pattern whose neckline is at $12. A double-top is one of the most popular bearish reversal signs.
Therefore, the potential roadmap for the Trump meme coin price is bullish, targeting $16.43 before a potential dive.
Bitcoin Pepe Gains Momentum
Meanwhile, there are signs that crypto investors are turning to Bitcoin Pepe, a new meme coin that has gone viral. It has raised $7.7 million in its presale as investors predict that it will be the next big thing in the crypto industry.
Bitcoin Pepe’s goal is to bring meme coins to the Bitcoin network. This is an ambitious plan considering that meme coins have accumulated a market cap of over $60 billion. This growth occurred despite Bitcoin’s technology not allowing developers to build on it.
Analysts believe that scaling Bitcoin to take advantage of emerging technologies like meme coins and DeFi is a trillion-dollar opportunity. Indeed, data shows that the total value locked in the Bitcoin network is over $9.67 billion. This includes networks like Babylon Protocol, Lombard Finance, and exSat Credit Staking.
Bitcoin Pepe’s technology allows users to activate their Bitcoin stack and deploy it on layer-2 solutions. You can buy the Bitcoin Pepe token here.
